CIBC Initiates Coverage on Denison Mines (NYSEAMERICAN:DNN)

Research analysts at CIBC assumed coverage on shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) in a research note issued on Thursday, MarketBeat Ratings reports. The firm set a “sector outperform” rating and a $3.25 price target on the basic materials company’s stock. CIBC’s target price indicates a potential upside of 75.68% from the company’s current price.

DNN has been the subject of several other research reports. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Denison Mines has an average rating of “Buy” and an average target price of $2.93.

Denison Mines Trading Down 0.5 %

Shares of NYSEAMERICAN DNN opened at $1.85 on Thursday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 26.43 and a beta of 1.70. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47. The firm has a 50 day moving average price of $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. On average, analysts predict that Denison Mines will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. &PARTNERS purchased a new position in Denison Mines during the first quarter worth about $34,000. RPS Advisory Solutions LLC purchased a new position in Denison Mines during the second quarter worth about $46,000. Legacy Capital Group California Inc. raised its holdings in Denison Mines by 131.7% during the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 13,248 shares in the last quarter. Toronto Dominion Bank raised its holdings in Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Denison Mines during the first quarter worth about $51,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

About Denison Mines

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.